$THE 🤑🤑🤑🤑💰💰💰
Trade Signal: SHORT
Entry Zone: $0.2775 – $0.2730
Stop Loss (SL): $0.3019 (above recent swing high)
Take Profit (TP) Targets:
· TP1: $0.2542
· TP2: $0.2248
· TP3: $0.2055
$THE THEUSDT
Perp
0.2735
-0.47%
Rationale for Short Signal:
1. Price Rejection at Resistance:
· Price recently reached a high near 0.2772 (24h high) and is now at 0.2693, showing signs of rejection.
· The chart shows a clear resistance zone between 0.2775–0.2963.
2. Stochastic Oscillator Overbought:
· K: 45.9582, D: 37.6078, J: 62.6591
· The J-line is above 60, indicating overbought conditions, which supports a potential pullback.
3. Lower High Formation (Potential):
· If price fails to break above 0.2775, a lower high could form, confirming bearish momentum.
4. Volume Data:
· 24h volume in USDT is 2.73M, which is moderate. A drop in volume on upward moves could indicate weakening bullish interest.
Risk Management:
· Risk/Reward Ratio: Minimum 1:2 achievable if targeting TP1.
· Position Size: Recommend 1–3% of capital.
· Confirmation: Wait for a bearish candle close below 0.2693 before entering.👇
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